Forexelite Trade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://forexelitetrade.org/?a=signup, about the company's legal and temporary regulatory information, the company's address 2 King Edward St, London EC1A 1HQ, UK.
Forexelite Trade Forex Broker
Basic Information
United Kingdom
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Forexelite Trade Broker - Comprehensive Information Guide
1. Broker Overview
Forexelite Trade, established in 2018, operates as an asset management company headquartered in the United Kingdom. The company is privately owned and focuses primarily on providing trading services in the forex and cryptocurrency markets, alongside comprehensive asset management and investment planning services.
Since its inception, Forexelite Trade has aimed to cater to a diverse client base, including retail traders and institutional investors, by offering a range of investment strategies tailored to individual risk tolerances and financial goals. The company has developed a reputation for its specialized expertise in forex trading, leveraging a team of skilled traders who utilize advanced analytical tools and market insights to generate profitable investment opportunities.
As part of its growth trajectory, Forexelite Trade has established various investment plans designed to accommodate different investment levels, ensuring accessibility for a wide range of clients. Despite its relatively short history, the broker has positioned itself as a key player in the financial trading sector, emphasizing its commitment to client success and satisfaction.
Forexelite Trade operates primarily in the retail forex market, providing services that include trading in various currency pairs and cryptocurrencies. This focus allows the broker to engage a broad audience interested in capitalizing on the volatility and opportunities present in these markets.
2. Regulatory and Compliance Information
Forexelite Trade operates without any valid regulation, which is a significant concern for potential investors. The absence of oversight from governmental or financial authorities exposes clients to potential risks, including fraud and mismanagement of funds.
Currently, there are no specific regulatory licenses associated with Forexelite Trade, and the company has not provided any regulatory numbers or documentation to verify compliance. This lack of regulation means that there are no enforceable guidelines or standards to protect investors against potential fraudulent activities.
In terms of customer fund security, Forexelite Trade does not publicly disclose its policies regarding the segregation of client funds or participation in any investor compensation schemes. As such, clients may face challenges in recovering their investments in case of disputes or operational failures.
The company does not appear to have implemented robust KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures, which are crucial for ensuring the legitimacy of its operations and protecting against financial crimes. This lack of regulatory compliance and transparency raises significant concerns about the safety and security of client investments.
3. Trading Products and Services
Forexelite Trade specializes in a diverse range of trading products, primarily focusing on forex and cryptocurrency trading. The broker offers access to numerous currency pairs, allowing traders to engage in both major and minor forex markets.
In addition to forex trading, Forexelite Trade provides CFD (Contract for Difference) products across various asset classes, including:
- Indices
- Commodities
- Stocks
- Cryptocurrencies
The broker emphasizes its capacity to adapt to market trends, regularly updating its product offerings to include new and emerging trading instruments. This flexibility is essential for attracting a diverse clientele interested in various investment strategies.
Forexelite Trade also offers asset management services, where experienced traders manage investments on behalf of clients, employing solid investment planning and strategies to safeguard capital while seeking profitable opportunities in the markets. This service is particularly appealing to clients who prefer a hands-off approach to investing.
4. Trading Platforms and Technology
Forexelite Trade does not provide a proprietary trading platform; instead, it supports the widely recognized MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are known for their user-friendly interfaces and comprehensive trading tools, making them suitable for both novice and experienced traders.
The broker's trading environment is designed to facilitate efficient trade execution, although specific details regarding execution modes (such as ECN, STP, or Market Making) are not clearly outlined. The absence of this information may raise concerns for traders seeking transparency regarding trade execution practices.
Currently, Forexelite Trade does not offer a dedicated mobile application for trading, which could limit accessibility for traders who prefer to manage their investments on the go. However, both MT4 and MT5 are available in mobile versions, allowing users to trade from their smartphones or tablets.
The broker's technology infrastructure, including server locations and capabilities, has not been disclosed publicly. This lack of information may lead to uncertainties regarding the reliability and speed of trade executions.
API access for automated trading is also not mentioned, which could be a drawback for algorithmic traders looking to implement automated strategies.
5. Account Types and Trading Conditions
Forexelite Trade offers several account types designed to cater to different trading needs and investment levels. The key account types include:
Basic Plan:
Minimum Deposit: 11% (less than $60)
Suitable for beginners or those wishing to start with a small investment.
Advanced Plan:
Minimum Deposit: 18% (approximately $500)
Designed for investors with moderate experience.
Extended Plan:
Minimum Deposit: 26% (between $2,500 and $5,499)
Tailored for experienced traders willing to invest significant capital.
Golden Plan:
Minimum Deposit: 72% (more than $6,000)
Offers exclusive access to premium features and personalized support.
The leverage ratios available for different products have not been explicitly stated, which can be a crucial factor for traders assessing their risk exposure. Additionally, the minimum trading lot sizes and overnight fee policies are not clearly defined, leaving potential clients with uncertainties regarding trading conditions.
Importantly, Forexelite Trade does not offer a demo account, which could hinder the ability of new traders to familiarize themselves with the trading environment before committing real capital.
6. Fund Management
Forexelite Trade provides various funding options to facilitate deposits and withdrawals. The supported deposit methods include:
- Bank Transfers
- Credit Cards (Visa/Mastercard)
- Cryptocurrency (Bitcoin)
- PayPal
The minimum deposit requirement varies across account types, with the basic plan allowing entry with less than $60. The processing times for deposits are generally immediate for credit card and PayPal transactions, while bank transfers may take longer.
Regarding withdrawal options, the broker supports similar methods as those for deposits. However, specific withdrawal fees and processing times have not been disclosed, which may raise concerns for clients regarding the cost and efficiency of accessing their funds.
It is essential for potential clients to inquire directly with the broker for detailed information regarding withdrawal limits and any applicable fees to avoid unexpected charges.
7. Customer Support and Educational Resources
Forexelite Trade offers multiple customer support channels to assist clients with their inquiries and issues. Available support options include:
- Telephone: +1 814 482 2296
- Email: info@forexelite.trade
- Live Chat: Accessible through the website.
- Online Messaging: Available on the trading platform.
The broker's customer service operates with the intent to provide timely assistance, although specific service hours and time zone coverage have not been specified.
In terms of educational resources, Forexelite Trade does not appear to offer extensive training materials or market analysis services. The absence of webinars, tutorials, or research reports may limit the ability of clients to enhance their trading knowledge and skills.
8. Regional Coverage and Restrictions
Forexelite Trade primarily serves clients in the United Kingdom and other regions interested in forex and cryptocurrency trading. However, the specific distribution of regional offices has not been disclosed.
While the broker aims to provide services globally, it is crucial for potential clients to verify if their country is accepted for account registration. The absence of information regarding restricted countries could lead to complications for clients from regions where the broker is not authorized to operate.
In conclusion, while Forexelite Trade presents itself as a broker specializing in forex and cryptocurrency trading, the lack of regulatory oversight and transparency raises significant concerns for potential investors. It is advisable for clients to conduct thorough research and exercise caution before engaging with the platform.